Regulatory Alerts2022-01-01
Law No. 40 of 2022 on Licensing and Supervision of the Money Exchange Profession
The President of the State of Palestine issued Law No. 40 of 2022 to regulate the money exchange profession and ensure the stability of the financial system. The Palestinian Monetary Authority is mandated to license, supervise, and enforce compliance through strict capital, operational, and anti-money laundering requirements. The law establishes penalties for violations, including fines and imprisonment, and grants the Authority the power to suspend or revoke licenses for non-compliance or illegal operations.
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